Tuesday, October 22, 2002
And again on Today: heard Belinda Earle, Debenhams CEO, defending their results and saying that Christmas will be luvverley. Lovely. When challenged on pensions - which I guess every CEO expects round about now - she said they have changed to an Average Salary Scheme. This is a guaranteed average salary over your time in the scheme. It's good that it's guaranteed in these no-promises times, but surely a system like that just encourages pay decision makers to keep salaries low because of the pension implications?
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